KPN to promote outside-in innovation with dedicated venture fund
KPN is stepping up efforts to promote outside-in innovation by establishing a dedicated venture fund, KPN Ventures. This will allow KPN to increase its exposure to the start-up community, accelerate further innovation in products, services and networks for KPN’s customers, and contribute to the development of innovation ecosystems in the Netherlands.
“In an environment characterised by an acceleration in the pace of technological innovation, growing demand for connectivity and rapidly changing consumer dynamics, it is more important than ever to partner with agile and innovative players and be part of new developments,” said Jan Kees de Jager, CFO of KPN. “We offer potential partners our best-in-class networks, in-depth knowledge of connectivity and security, and the possibility of offering new applications to millions of customers. By combining forces with the start-up community, we demonstrate our commitment to open innovation and accelerate the development and commercialisation of innovative applications.”
KPN seeks to stay at the forefront of new developments and is continuously investing in its best-in class networks and ICT infrastructure. KPN has the best national 4G coverage in Europe[1] and is moving ahead with carrier aggregation to further increase capacity and speed. KPN is also implementing innovative technologies in its fixed network so that by 2016, 85% of Dutch households will have access to download speeds of 100 Mbps or more. As well as investing in its networks, KPN is also continuously developing innovative products and services such as its successful market leading interactive TV proposition.
KPN has reserved an initial total amount of EUR 35 million for selected investments that meet the criteria of the fund.